Legacy Trust Sells 621 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Legacy Trust decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,929 shares of the company’s stock after selling 621 shares during the period. Legacy Trust’s holdings in PepsiCo were worth $1,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Wealth Strategies & Associates grew its stake in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the third quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo in the 3rd quarter valued at $31,000. Mattson Financial Services LLC bought a new stake in PepsiCo during the 2nd quarter worth about $34,000. Finally, Rakuten Securities Inc. boosted its stake in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

PEP opened at $150.37 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market capitalization of $206.31 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The business has a fifty day simple moving average of $153.68 and a 200 day simple moving average of $165.17. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $172.00 target price on shares of PepsiCo in a report on Wednesday. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $176.73.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.